Search icon


29th May 2019

Bin Zayed Group release fresh statement regarding Newcastle United takeover

Wayne Farry

newcastle takeover

The group has claimed that a sale has been agreed with Mike Ashley

The Bin Zayed Group, led by Sheikh Khaled, has released a statement on the progress of their proposed takeover of Newcastle United.

The group has been linked with £350 million takeover of the North East club, but United sources have reportedly told the Chronicle that there has been no official approach from the Middle Eastern group.

The statement, released to the public on Wednesday, contradicts that version of events, and claims that relevant documents which have been signed by both parties have been forwarded to the Premier League.

“In consideration of the numerous speculations in regards to the timelines of the acquisition of Newcastle United Football Club by Bin Zayed Group, we feel the need to issue this statement,” reads the statement.

“Terms have been agreed between us and Mike Ashley; these terms have been reflected in a document, signed by both parties, which has been forwarded to the Premier League.

“The proof of funds statement was forwarded to Mike Ashley’s lawyers on 17 April 2019.

“The so called fit-and-proper Premier League process is a standard procedure which will take time, and we are doing all we can to assist the Premier League during this process.

“We feel the need to clarify this point in order for the fans and the general public to understand the timelines.”

Initial reports regarding the takeover had claimed that Sheikh Khaled was a cousin of Manchester City owner Sheikh Mansour, however those reports have since been discredited.

It’s suggested Sheik Khaled is ‘not the same Bin Zayed’ as the Premier League champions’ owner and is, at best, a distant relation.

Several reports have also pointed out that Sheikh Khaled failed in an attempt to buy Liverpool last year in a deal thought to be worth around £2 billion.

No proof of funds was ever provided by the group, with a source telling the Mail that they were ‘time-wasters’. This, for those Newcastle fans eager to see Ashley leave the club, will likely come as a concern.